Congressional Bank Mortgage Rates, Fees & Info

Bethesda, MD

LEI: 2549008CZOYIG4FIKS25

Tax ID: 43-2022906

5 stars - out of 5 stars, based on 26 reviews

2021 Data | 2020 Data | 2019 Data | 2018 Data


Overview

Congressional Bank is a smaller bank specializing in Refi and Home Purchase loans. Congressional Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets include Washington, Detroit, Baltimore, Orlando, and Columbus among others. Congressional Bank has an average approval rate for mortages when compared nationally. They have a below average pick rate when compared to the same sample of other lendors. Congressional Bank is typically an average fee lendor.


Originations

659

Origination Dollar Volume (All Markets)

$344,275,000

Employee count

270 Show all (8) awards

Relative Rate

Congressional Bank's average 30 year fixed rate mortgage of loans were 2.83%.

The 2021 average 30 year fixed rate mortgage across all markets of loans were 3.15%.

This yields a difference of -0.32%.

Relative Fees

Congressional Bank's average total fees for a 30 year fixed rate mortgage are $3,788.

The average total origination fees for 30 year fixed rate mortgages (for all loan values, including both points & up-front fees in addition to origination fees) are $4,750.

Top Markets

Market Originations Total Value Average Loan Average Fees Average Rate
Washington-Arlington-Alexandria, DC-VA-MD-WV (FHA|USDA|VA) 453 $254,155,000 $561,049 $3,051 2.97%
Detroit-Warren-Dearborn, MI (FHA|USDA|VA) 1 $25,355,000 $25,355,000 $0 4.50%
BALTIMORE-COLUMBIA-TOWSON, MD (FHA|USDA|VA) 58 $18,450,000 $318,103 $2,603 2.61%
ORLANDO-KISSIMMEE-SANFORD, FL (FHA|USDA|VA) 16 $4,670,000 $291,875 $5,294 3.03%
COLUMBUS, OH (FHA|USDA|VA) 17 $4,235,000 $249,118 $4,089 2.87%
SALISBURY, MD-DE (FHA|USDA|VA) 5 $4,135,000 $827,000 $11,543 3.70%
New York-Newark-Jersey City, NY-NJ-PA (FHA|USDA|VA) 7 $3,065,000 $437,857 $4,370 2.94%
Miami-Fort Lauderdale-Pompano Beach, FL (FHA|USDA|VA) 3 $2,665,000 $888,333 $8,564 4.00%
Outside of Metro Areas 5 $1,385,000 $277,000 $3,928 3.00%
CHARLOTTE-CONCORD-GASTONIA, NC-SC (FHA|USDA|VA) 6 $1,280,000 $213,333 $3,568 2.83%
RALEIGH-CARY, NC (FHA|USDA|VA) 4 $1,130,000 $282,500 $3,018 2.78%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 3 $1,085,000 $361,667 $3,831 3.00%
CRESTVIEW-FORT WALTON BEACH-DESTIN, FL (FHA|USDA|VA) 1 $1,005,000 $1,005,000 $9,960 2.88%
Los Angeles-Long Beach-Anaheim, CA (FHA|USDA|VA) 3 $1,005,000 $335,000 $3,198 2.67%
Chicago-Naperville-Elgin, IL-IN-WI (FHA|USDA|VA) 1 $995,000 $995,000 $7,120 3.00%
CHARLOTTESVILLE, VA (FHA|USDA|VA) 3 $955,000 $318,333 $3,723 2.87%
FAYETTEVILLE-SPRINGDALE-ROGERS, AR (FHA|USDA|VA) 2 $900,000 $450,000 $3,370 2.88%
Philadelphia-Camden-Wilmington, PA-NJ-DE-MD (FHA|USDA|VA) 3 $855,000 $285,000 $5,085 2.96%
RICHMOND, VA (FHA|USDA|VA) 4 $730,000 $182,500 $2,461 2.38%
ATLANTA-SANDY SPRINGS-ALPHARETTA, GA (FHA|USDA|VA) 2 $640,000 $320,000 $2,909 2.81%
INDIANAPOLIS-CARMEL-ANDERSON, IN (FHA|USDA|VA) 2 $610,000 $305,000 $2,626 2.88%
RENO, NV (FHA|USDA|VA) 2 $610,000 $305,000 $2,691 2.56%
DELTONA-DAYTONA BEACH-ORMOND BEACH, FL (FHA|USDA|VA) 2 $610,000 $305,000 $4,262 3.56%
CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 1 $605,000 $605,000 $0 5.00%
NAPLES-MARCO ISLAND, FL (FHA|USDA|VA) 1 $575,000 $575,000 $0 5.25%
PITTSBURGH, PA (FHA|USDA|VA) 2 $570,000 $285,000 $4,789 3.00%
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (FHA|USDA|VA) 2 $550,000 $275,000 $2,178 2.69%
TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $530,000 $265,000 $5,087 2.81%
North Port-Sarasota-Bradenton, FL (FHA|USDA|VA) 2 $520,000 $260,000 $5,283 2.88%
SAN DIEGO-CHULA VISTA-CARLSBAD, CA (FHA|USDA|VA) 1 $515,000 $515,000 $21,285 2.63%
BARNSTABLE TOWN, MA (FHA|USDA|VA) 1 $515,000 $515,000 $4,436 2.50%
OLYMPIA-LACEY-TUMWATER, WA (FHA|USDA|VA) 1 $515,000 $515,000 $21,441 2.63%
DENVER-AURORA-LAKEWOOD, CO (FHA|USDA|VA) 1 $485,000 $485,000 $2,497 2.75%
HILTON HEAD ISLAND-BLUFFTON, SC (FHA|USDA|VA) 2 $470,000 $235,000 $6,625 2.56%
LYNCHBURG, VA (FHA|USDA|VA) 3 $405,000 $135,000 $2,222 2.95%
BEND, OR (FHA|USDA|VA) 1 $405,000 $405,000 $8,180 2.99%
DOVER, DE (FHA|USDA|VA) 1 $375,000 $375,000 $4,735 2.99%
Cambridge, MD (FHA|USDA|VA) 2 $360,000 $180,000 $2,767 2.75%
PORTLAND-SOUTH PORTLAND, ME (FHA|USDA|VA) 1 $355,000 $355,000 $2,490 2.75%
Boston-Cambridge-Newton, MA-NH (FHA|USDA|VA) 1 $335,000 $335,000 $8,796 1.99%
ALBANY-SCHENECTADY-TROY, NY (FHA|USDA|VA) 1 $315,000 $315,000 $2,915 2.88%
CHATTANOOGA, TN-GA (FHA|USDA|VA) 1 $305,000 $305,000 $2,517 3.13%
BILLINGS, MT (FHA|USDA|VA) 1 $275,000 $275,000 $9,419 2.25%
JACKSONVILLE, FL (FHA|USDA|VA) 1 $265,000 $265,000 $3,095 3.25%
WORCESTER, MA-CT (FHA|USDA|VA) 1 $255,000 $255,000 $9,410 2.75%
PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $255,000 $255,000 $3,484 3.13%
Hilo, HI (FHA|USDA|VA) 1 $245,000 $245,000 $9,015 3.88%
SAN ANTONIO-NEW BRAUNFELS, TX (FHA|USDA|VA) 1 $245,000 $245,000 $2,257 2.25%
READING, PA (FHA|USDA|VA) 1 $235,000 $235,000 $5,010 3.13%
GREENSBORO-HIGH POINT, NC (FHA|USDA|VA) 1 $225,000 $225,000 $7,657 2.88%
Calhoun, GA (FHA|USDA|VA) 1 $225,000 $225,000 $8,592 3.75%
HAGERSTOWN-MARTINSBURG, MD-WV (FHA|USDA|VA) 1 $215,000 $215,000 $3,365 2.65%
Dallas-Fort Worth-Arlington, TX (FHA|USDA|VA) 1 $205,000 $205,000 $3,511 2.38%
Defiance, OH (FHA|USDA|VA) 1 $205,000 $205,000 $5,734 3.00%
ALBUQUERQUE, NM (FHA|USDA|VA) 1 $185,000 $185,000 $3,962 2.99%
HARRISBURG-CARLISLE, PA (FHA|USDA|VA) 1 $185,000 $185,000 $3,447 3.12%
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 1 $185,000 $185,000 $4,204 2.99%
Easton, MD (FHA|USDA|VA) 1 $185,000 $185,000 $2,743 2.63%
HUNTSVILLE, AL (FHA|USDA|VA) 1 $145,000 $145,000 $2,450 2.75%
STAUNTON, VA (FHA|USDA|VA) 1 $135,000 $135,000 $3,137 2.99%
ROCHESTER, NY (FHA|USDA|VA) 1 $135,000 $135,000 $4,423 3.25%
SPOKANE-SPOKANE VALLEY, WA (FHA|USDA|VA) 1 $125,000 $125,000 $2,496 3.25%
BATON ROUGE, LA (FHA|USDA|VA) 1 $125,000 $125,000 $2,537 3.25%
CUMBERLAND, MD-WV (FHA|USDA|VA) 1 $115,000 $115,000 $2,817 2.38%
ROANOKE, VA (FHA|USDA|VA) 1 $105,000 $105,000 $5,401 2.49%
GAINESVILLE, FL (FHA|USDA|VA) 1 $105,000 $105,000 $3,091 2.50%
CALIFORNIA-LEXINGTON PARK, MD (FHA|USDA|VA) 1 $95,000 $95,000 $2,455 2.25%
SCRANTON--WILKES-BARRE, PA (FHA|USDA|VA) 1 $95,000 $95,000 $3,526 2.63%
Pittsburg, KS (FHA|USDA|VA) 1 $95,000 $95,000 $3,547 3.00%
DAYTON-KETTERING, OH (FHA|USDA|VA) 1 $95,000 $95,000 $3,152 3.13%
BIRMINGHAM-HOOVER, AL (FHA|USDA|VA) 1 $85,000 $85,000 $6,762 2.50%

Congressional Bank's top markets include Washington, Detroit, Baltimore, Orlando, and Columbus among others.

Product Mix

Loan Type Originations Total Value Average Loan Average Fees Average Rate
Conventional 613 $327,245,000 $533,842 $3,060 2.95%
VA 24 $10,970,000 $457,083 $7,022 2.52%
FHA 20 $5,610,000 $280,500 $9,302 3.01%
USDA 2 $450,000 $225,000 $5,127 2.63%

For the 2021 period, Congressional Bank's most frequently originated loan type of loans were Conventional, with 613 originations. Their 2nd most popular type is VA, with 24 originations.

Loan Reason

Loan Reason Originations Total Value Average Loan Average Fees Average Rate
Refi 401 $154,025,000 $384,102 $2,611 2.62%
Home Purchase 139 $111,485,000 $802,050 $6,159 3.61%
Cash Out Refi 113 $67,065,000 $593,496 $3,976 3.15%
Home Improvement 3 $4,245,000 $1,415,000 $0 4.92%
Other 3 $7,455,000 $2,485,000 $3,484 4.28%

For the 2021, Congressional Bank's most frequently cited loan purpose of loans were Refi, with 401 originations. The 2nd most popular reason of loans were Home Purchase, with 139 originations.

Loan Duration/Length

Loan Length Originations Total Value Average Loan Average Fees Average Rate
30 Year 426 $171,080,000 $401,596 $3,788 2.83%
15 Year 108 $35,150,000 $325,463 $2,542 2.35%
Other 48 $66,930,000 $1,394,375 $2,576 4.14%
20 Year 32 $10,960,000 $342,500 $2,739 2.60%
10 Year 21 $8,035,000 $382,619 $2,173 3.22%
1 Year 14 $13,820,000 $987,143 $0 5.43%
5 Year 9 $12,945,000 $1,438,333 $0 4.80%
3 Year 1 $25,355,000 $25,355,000 $0 4.50%

For the 2021, Congressional Bank's most frequently cited loan length of loans were 30 Year, with 426 originations. The 2nd most popular length of loans were 15 Year, with 108 originations.

Origination Fees

Origination Fee Originations Total Value Average Loan
$1k-2k 534 $203,020,000 $380,187
$3k-4k 22 $5,210,000 $236,818
$2k-3k 19 $5,395,000 $283,947
$5k+ 10 $7,280,000 $728,000
$<1k 9 $3,745,000 $416,111

$3,788 of loans were Congressional Bank's average total fees, while their most frequently occuring range of origination fees were in the $1k-2k bucket, with 534 originations.

Interest Rates

Loan Rate Originations Total Value Average Loan
2.5-3% 267 $102,525,000 $383,989
<2.5% 245 $91,395,000 $373,041
3-4% 75 $30,835,000 $411,133
4-5% 63 $102,135,000 $1,621,190
5-6% 7 $16,485,000 $2,355,000
7-8% 1 $5,000 $5,000
Over 8% 1 $895,000 $895,000

During 2021, Congressional Bank's average interest rate of loans were 2.83%, while their most frequently originated rate bucket of loans were 2.5-3%, with 267 originations.

Loan Sizing

Loan Size Originations Total Value Average Loan Average Fees Average Rate
$200k-400k 275 $82,625,000 $300,455 $3,234 2.76%
$400k-600k 204 $99,050,000 $485,539 $3,369 2.68%
$100k-200k 62 $9,700,000 $156,452 $3,121 2.86%
$600k-1MM 60 $44,260,000 $737,667 $4,222 3.49%
$1MM+ 40 $107,320,000 $2,683,000 $13,623 4.71%
$100,000 or less 18 $1,320,000 $73,333 $3,080 2.86%

2021 saw Congressional Bank place emphasis on $200k-400k loans with 275 originations, totaling $82,625,000 in origination value.

Applicant Income

Applicant Income Originations Total Value Average Loan Average Fees Average Rate
$100k-150k 198 $72,600,000 $366,667 $3,297 2.68%
$150k-250k 179 $76,595,000 $427,905 $2,776 2.64%
$250k+ 70 $37,900,000 $541,429 $4,592 2.91%
$75k-100k 63 $19,665,000 $312,143 $3,929 2.75%
$50k-75k 48 $10,250,000 $213,542 $4,094 2.90%
$50k or less 29 $4,625,000 $159,483 $3,554 2.81%

Congressional Bank lent most frequently to those with incomes in the $100k-150k range, with 198 originations. The second most popular income band? $150k-250k, with 179 originations.

Applicant Debt to Income Ratio

DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
20-30% 190 $70,830,000 $372,789 $3,140 2.65%
30-36% 126 $50,150,000 $398,016 $3,745 2.74%
<20% 75 $25,305,000 $337,400 $2,660 2.59%
38% 19 $6,635,000 $349,211 $3,067 2.85%
41% 16 $8,280,000 $517,500 $5,024 2.95%
37% 16 $7,160,000 $447,500 $2,456 2.73%
42% 15 $4,925,000 $328,333 $4,324 2.83%
36% 15 $5,985,000 $399,000 $2,751 2.70%
39% 15 $7,545,000 $503,000 $4,190 2.90%
45% 14 $6,460,000 $461,429 $3,568 2.75%
43% 14 $4,260,000 $304,286 $3,292 2.79%
49% 12 $3,450,000 $287,500 $5,746 2.99%
44% 11 $3,645,000 $331,364 $3,205 2.79%
48% 10 $2,910,000 $291,000 $3,752 2.90%
47% 10 $2,980,000 $298,000 $3,221 2.94%
40% 10 $3,880,000 $388,000 $3,556 3.17%
50-60% 9 $2,235,000 $248,333 $6,977 2.91%
46% 9 $3,545,000 $393,889 $3,368 2.64%

Congressional Bank lent most frequently to those with DTI ratios of 20-30%, with 190 originations. The next most common DTI ratio? 30-36%, with 126 originations.

Ethnicity Mix

Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
Not applicable 63 $116,965,000 $1,856,587 $0 4.90%
Asian 242 $95,290,000 $393,760 $2,603 2.60%
White 202 $76,390,000 $378,168 $4,279 2.82%
Not provided 107 $41,105,000 $384,159 $3,360 2.78%
Black 43 $14,075,000 $327,326 $4,194 2.83%
American Indian 1 $245,000 $245,000 $9,015 3.88%
Native Hawaiian 1 $205,000 $205,000 $7,257 3.63%

Approval Rates

Total approvals of all applications
79.45%

Congressional Bank has a below average approval rate.

Pick Rate

Approvals leading to origination
48.88%

Congressional Bank has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.

Points and Fees

Points Originations Total Value Average Loan
NA 659 $344,275,000 $522,420

Occupancy Type Mix

Dwelling Type Originations Total Value Average Loan
659 $344,275,000 $522,420

LTV Distribution

Loan to Value Originations Total Value Average Loan Average Fees Average Rate
20-40% 39 $13,915,000 $356,795 $2,586 2.57%
40-60% 200 $117,080,000 $585,400 $2,520 2.71%
60-80% 292 $150,600,000 $515,753 $3,241 3.05%
80-100% 115 $48,605,000 $422,652 $5,382 2.99%
Over 100% 3 $1,115,000 $371,667 $9,396 2.83%
Under 20% 10 $12,960,000 $1,296,000 $6,523 4.93%

Bank Details

Branches

Bank Name Branch Branch Type Deposits (000's)
Congressional Bank 7963 Tuckerman Lane Potomac, MD 20854 Full Service B&M $909,180
Congressional Bank 150 Elden Street Suite 170 Herndon, VA 20170 Full Service B&M $48,872
Congressional Bank 1700 Rockville Pike Rockville, MD 20852 Full Service B&M $497,332
Congressional Bank 2101 K Street Northwest Washington, DC 20037 Full Service B&M $171,945
Congressional Bank 4801-A Montgomery Lane Bethesda, MD 20814 Full Service B&M $104,651
Congressional Bank 6701 Democracy Blvd., Suite 400 Bethesda, MD 20817 Limited, Administrative $0

For 2021, Congressional Bank had 6 branches.

Yearly Performance Overview

Bank Income

Item Value (in 000's)
Total interest income $130,033
Net interest income $122,036
Total noninterest income $31,577
Gross Fiduciary activities income $0
Service charges on deposit accounts $484
Trading account gains and fees $0
Additional Noninterest Income $31,093
Pre-tax net operating income $49,443
Securities gains (or losses, -) $0
Income before extraordinary items $37,192
Discontinued Operations (Extraordinary gains, net) $0
Net income of bank and minority interests $37,192
Minority interest net income $0
Net income $37,192
Sale, conversion, retirement of capital stock, net $0
Net operating income $37,192

Congressional Bank's gross interest income from loans was $130,033,000.
Congressional Bank's net interest income from loans was $122,036,000.
Congressional Bank's fee based income from loans was $484,000.
Congressional Bank's net income from loans was $37,192,000.

Bank Expenses

Item Value (in 000's)
Total interest expense $7,997
Provision for credit losses $19,496
Total noninterest expense $84,674
Salaries and employee benefits $56,127
Premises and equipment expense $4,288
Additional noninterest expense $24,259
Applicable income taxes $12,251
Net charge-offs $3,991
Cash dividends $0

Congressional Bank's interest expense for loans was $7,997,000.
Congressional Bank's payroll and benefits expense were $56,127,000.
Congressional Bank's property, plant and equipment expenses $4,288,000.

Loan Performance

Type of Loan % of Loans Noncurrent (30+ days, end of period snapshot)
All loans 0.0%
Real Estate loans 0.0%
Construction & Land Development loans 0.0%
Nonfarm, nonresidential loans 0.0%
Multifamily residential loans 0.0%
1-4 family residential loans 3.0%
HELOC loans 0.0%
All other family 4.0%
Commercial & industrial loans 0.0%
Personal loans 0.0%
Credit card loans 0.0%
Other individual loans 0.0%
Auto loans 0.0%
Other consumer loans 0.0%
Unsecured commercial real estate loans 0.0%

Deposits

Type Value (in 000's)
Total deposits $3,849,804
Deposits held in domestic offices $3,849,804
Deposits by Individuals, partnerships, and corporations $3,627,876
Deposits by U.S. Government $0
Deposits by States and political subdivisions in the U.S. $183,924
Deposits by Commercial banks and other depository institutions in U.S. $38,004
Deposits by Banks in foreign countries $0
Deposits by Foreign governments and official institutions $0
Transaction accounts $1,745,658
Demand deposits $1,112,780
Nontransaction accounts $2,104,146
Money market deposit accounts (MMDAs) $1,756,675
Other savings deposits (excluding MMDAs) $69,738
Total time deposits $277,733
Total time and savings deposits $2,737,024
Noninterest-bearing deposits $556,006
Interest-bearing deposits $3,293,798
Retail deposits $3,346,787
IRAs and Keogh plan accounts $8,674
Brokered deposits $497,347
Deposits held in foreign offices $0

Assets

Asset Value (in 000's)
Total Assets $4,591,096
Cash & Balances due from depository institutions $1,178,360
Interest-bearing balances $1,157,873
Total securities $32,453
Federal funds sold & reverse repurchase $114
Net loans and leases $3,263,527
Loan and leases loss allowance $28,433
Trading account assets $0
Bank premises and fixed assets $5,044
Other real estate owned $0
Goodwill and other intangibles $37,383
All other assets $74,215

Liabilities

Liabilities Value (in 000's)
Total liabilities and capital $4,591,096
Total Liabilities $3,988,040
Total deposits $3,849,804
Interest-bearing deposits $3,293,798
Deposits held in domestic offices $3,849,804
% insured (estimated) $33
Federal funds purchased and repurchase agreements $0
Trading liabilities $0
Other borrowed funds $102,887
Subordinated debt $0
All other liabilities $35,349

Issued Loan Types

Type Value (in 000's)
Net loans and leases $3,263,527
Loan and leases loss allowance $28,433
Total loans and leases (domestic) $3,291,960
All real estate loans $1,289,249
Real estate loans in domestic offices $1,289,249
Construction and development loans $145,551
Residential 1-4 family construction $29,050
Other construction, all land development and other land $116,501
Loans secured by nonfarm nonresidential properties $972,993
Nonfarm nonresidential secured by owner-occupied properties $738,807
Commercial real estate & other non-farm, non-residential $234,186
Multifamily residential real estate $42,020
1-4 family residential loans $128,685
Farmland loans $0
Loans held in foreign offices $0
Farm loans $0
Commercial and industrial loans $956,391
To non-U.S. addressees $0
Loans to individuals $269,637
Credit card loans $0
Related Plans $24
Consumer Auto Loans $0
Other loans to individuals $269,613
All other loans & leases $776,684
Loans to foreign governments and official institutions $0
Other loans $776,684
Loans to depository institutions and acceptances of other banks $0
Loans not secured by real estate $0
Loans secured by real estate to non-U.S. addressees $0
Restructured Loans & leases $4,267
Non 1-4 family restructured loans & leases $3,451
Total loans and leases (foreign) $0

Congressional Bank had $3,263,527,000 of loans outstanding in 2021. $1,289,249,000 of loans were in real estate loans. $145,551,000 of loans were in development loans. $42,020,000 of loans were in multifamily mortgage loans. $128,685,000 of loans were in 1-4 family mortgage loans. $0 of loans were in farm loans. $0 of loans were in credit card loans. $0 of loans were in the auto loan category.

Small Business Loans

Categorization # of Loans in Category $ amount of loans (in 000's) Average $/loan
Nonfarm, nonresidential loans - <$1MM 39 $12,656 $324,513
Nonfarm, nonresidential loans - <$100k 2 $77 $38,500
Nonfarm, nonresidential loans - $100-250k 10 $1,527 $152,700
Nonfarm, nonresidential loans - $250k-1MM 27 $11,052 $409,333
Commercial & Industrial, US addressed loans - <$1MM 282 $36,500 $129,433
Commercial & Industrial, US addressed loans - <$100k 122 $6,335 $51,926
Commercial & Industrial, US addressed loans - $100-250k 117 $19,304 $164,991
Commercial & Industrial, US addressed loans - $250k-1MM 43 $10,861 $252,581